Russia: Status to mine 1.3 tons of gold in 2017

The government of the Magadan region and Status LLC have signed an agreement on the operation at the gold-bearing deposits on the territory of Yagodnoye town district. In 2015-2016 the company invested 470 million rubles in the development of the manufacturing capacities and paid 390 million rubles of taxes. The company also mined 2.6 tons…

Russia: Olcha deposits to increase gold output

Olcha gold-silver deposits have supplied the first batch of ore to processing works. All the roads were constructed last year. “This is a very ambitious project. And the implementation of new projects in precious metals mining confirms the fact that Magadan region is firmly moving forward, increasing gold and silver output from year to year”,…

Russia: gold output forecast for 2017

Gold production in Russia in 2017 will grow by 2-2.5%, to 304-305 tons, according to the Union of gold-miners of Russia. The union expects the average price to hit $1.27 thousand per 1 gold ounce. “Under the expected cross-rate of the ruble to the dollar at 57-65 rubles per dollar, we believe the ruble price…

Russia: gold output up in January 2017

In January Russia increase gold ingot output by 5.7% YoY.

According to Rosstat, the January results exceed the December 2016 by 42.5%. (Ukrainian metal)

Russia: 22 tons of gold exported in 2016

In 2016 Russia exported 22.4 tons of gold, down by 43% YoY, while the output remained on the previous year level. Though there is still no data on January-November 2016 output the Union of gold-miners expects the figure to be on the level of 295-297 tons. Central bank bought the most gold on the local…

Kyrgyzstan: licenses of two gold miners suspended

The licenses of two gold mining companies in Kyrgyzstan were suspended, the State Committee of Industry, Energy and Subsoil Use reported. The license of «Aksyaltyn Gold» LLC, which produces placer gold in Chon-Alai district of Osh region, and the license of «Andash Mining Company» LLC, mining gold in Talas region, were suspended. Licenses of other…

Russia: Yakutia gold output up in 2016

In 2016 Yakutia mined 23.653 tons of gold.

The annual target was 23.5 tons of gold. The decrease of the target is explained with the planned indexes of local gold-miners.

This year Yakutia expects to mine 22-23 tons of gold. (Ukrainian metal)

Kazakhstan: gold output down in 2016

In 2016 Kazakhstan produced 74.6 tons of unwrought and semi-wrought gold, down by 17.1% YoY. The share of fine gold made more than half (37.7 tons) of the produced precious metals. Kazakhstan has observed intensification of gold production in recent years. In 2013 annual growth made 6.6%, in 2014 – 18% and in 2015 –…

Russia: Yanzoloto mines 150 kg of gold

In 2016 Yanzoloto, working in Ust-Yansk in the Republic of Sakha (Yakutia), mined 150 kg of gold, having exceeded its annual target.

The company expects the gold reserves at the site to increase by 2.5 tons. (Ukrainian metal)